Shutterstock, Inc. (NYSE:SSTK) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,914,311 shares of the business services provider's stock after selling 22,805 shares during the period. Vanguard Group Inc. owned 8.36% of Shutterstock worth $88,449,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Amundi increased its position in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after acquiring an additional 488 shares in the last quarter. Palouse Capital Management Inc. raised its position in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after purchasing an additional 525 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Shutterstock by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider's stock worth $1,066,000 after purchasing an additional 532 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Shutterstock by 6.2% in the third quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider's stock worth $545,000 after buying an additional 894 shares during the period. Finally, KBC Group NV grew its stake in shares of Shutterstock by 1.5% in the fourth quarter. KBC Group NV now owns 66,069 shares of the business services provider's stock valued at $2,005,000 after buying an additional 999 shares in the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

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Shutterstock Stock Up 0.4 %

Shares of SSTK stock traded up $0.06 during mid-day trading on Tuesday, reaching $15.23. 24,932 shares of the company were exchanged, compared to its average volume of 668,139. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The business's 50 day simple moving average is $21.29 and its 200 day simple moving average is $27.68. The company has a market capitalization of $531.54 million, a P/E ratio of 14.93 and a beta of 1.13. Shutterstock, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $46.10.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. Shutterstock's revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 earnings per share. Research analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.33 dividend. This is a positive change from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 8.67%. The ex-dividend date was Thursday, March 6th. Shutterstock's payout ratio is currently 130.69%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SSTK. Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. StockNews.com began coverage on shares of Shutterstock in a research note on Tuesday, April 8th. They issued a "hold" rating for the company. Needham & Company LLC dropped their price target on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $45.33.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.